Alcoa had a monopoly in the U.S. aluminum market from the late nineteenth century until the end of World War II. Which barrier to entry was the source of Alcoa's monopoly power?
a. Ownership of a vital resource.
b. Government franchises and licenses.
c. Patents and copyrights.
d. Economies of scale.
Question 2
Suppose that the price of telephones decreases. If more are purchased then:
a. the total utility of telephones will decrease.
b. the total utility of telephones will be unchanged.
c. the marginal utility of telephones will likely increase.
d. the marginal utility of telephones will likely decrease.
e. both a and d.
Nineteenth century etching of a lion tamer in a cage of lions
Adults in late middle adulthood frequently look forward to spending more time with their partner
Daniel Burnham’s Flatiron Building (1902) was one of the first to use steel girders to hold up the b
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Geopolitical Change of 20th-Century Europe
A late stage in mitosis after the chromosomes (stained blue) have separated